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the fiscal cliff. not just yet. they have not come to a solution in washington. that is front and center. we are also seeing a flock to the area that are safe. the dollar is higher. gold is higher. we are also -- there is a look at the dow jones one week. last friday we close that 13,135. we are still actually of about 30 points for the week. that is if we were to close right here. for right now, certainly, read on the screen because there is so much concern about washington. melissa: thank you so much. many believe the speaker in the senate, but it did notie -@even make it through the house last night. i next asked is not confident it will happen within the next year. >> we will see what the president says. after what has happened this week, it is not clear what the way forward is. it is more likely than not that we will grow into january without a deal. melissa: what does that really mean for the economy? >> it is to businesses to decide when they change their holdings. there is some spending programs that will be extended. they are uncertain about the outlook. there are a variety of ways
been posted by the "washington post" for tomorrow, and saying that it had become a distraction, that she wants to focus on her work and that clearly was not possible the way this had proceeded. i think that no one asked her to withdraw but they were unable, since she had not been nominated and the president was still obviously ambivalent between her and john kerry at this stage, they did not surround her with the kind of support she would have had if she had been a nominee. i think it's very clear from our reporting and from chuck todd's reporting that some of the top advisers in the white house, they were divided also, but some of the top advisers said to the president you do not need this political battle right now with the republican senate because this would stretch the benghazi investigation forever and it would mean that the confirmation hearing would be very difficult. they probably could have won it. but that it would be a distraction from the main act, which is to move on, create a cabinet, have a national security team and focus on the tax and spending debate, which i
're at the new york stock exchange as well looking to open the week on a winning note as washington continues to look for some kind of a deal on the fiscal cliff. >> some kind being the operative words. hello everyone, again. maria is going to be back tomorrow but in the meantime you're stuck with me. let's see what the markets are up to today. the dow holding marginally above water. as for the nasdaq and the s&p, let's get a check on those two as well. they've been kind of positive today, but not superbly so. at least it is a positive start to the trading week. >> now, forget about the number of days -- shopping days until christmas. we're talking about 13 and a half trading days after today how to position your money ahead of what might or might not happen with the fiscal cliff deal. are we ready to go? let's find out how you should be investing. everybody's looking at me like i should not be saying something right now. okay. everybody's there. mandy? >> okay. joining us now we have a cast of thousands. dan mcmahon from raymond james. nathan backrat. and our very own rick santelli. thank yo
'm not going to say it. >> you are in our hearts. you can tell us what's going on in washington. what's going on in washington? >> bad dynamics. >> really? >> those of us optimistic there'd be a deal. the white house has blasted boehner's offer as much as the republicans blasted the president's. people like to say, oh, they're going to posture, but behind the scenes they're working it out. they're not. >> i hear chuck todd reported yesterday behind the scenes a top aide to barack obama, willie geist. and this -- i don't -- i'm not really good at reading the tea leaves. maybe this is good, maybe this is bad. but a top obama aide yesterday told chuck todd that if the republicans -- if these republicans were in power when abraham lincoln were there, there would still be slavery. does that help the process move along? or does it hurt? i don't really know -- >> reading between the lines. >> i know one direction, i know boy bands. >> reading between the lines, that's probably a bad omen. we do have four weeks, though. >> that's bad. >> absolutely. we have, i believe, we have 27 negotiating days. un
for staying with us for the next hour. do you want to know what just happened tonight in washington? do you want to know what just happened, with congress just unexpectedly imploding and the republicans in congress dissolving into a huge internal fight, including screaming matches within their own caucus and all of a sudden they're just turning off the light and abandoning what they were doing and nobody really knows why and nobody knows what happens next? do you want to know how we got here and why this just happened and why it's reallhere. okay? this is jim demint. jim demint was re-elected senator for south carolina not this past election, 2012, but in 2010. you might remember he was the guy who had the good fortune in 2010 to be running against a young man named alvin green on the democratic side. it was not a hotly contested race. mr. did emint won by 34 points. and that freed him up to spread a bunch of his own campaign cash and his own energy that year on other campaigns and other candidates that he favored. and that has been the way that jim demint has built his influence in politic
.5%. connell: a news alert from washington. you will see it here live from d.c. as we wait for the speaker, we will hear from a guy who says >> whatever god deal is signed, there will be a lot of pressure. boehner will have to cut a deal that raises taxes. their idea of fiscal conservatism, for two decades, has only been about taxes. meanwhile, under current sentiment, underneath him, why don't you finally go after spending. those tea party people will be completely hostile to whatever deal comes up. connell: the reason he is speaker of the house is because of those tea party. the same group that may, if you are right though i drive him out of town. >> he has been systematically pushing tea party people out of committees in order to get his conference more in line. connell: he better kind of followed the line here. >> that is how you organize and discipline. it will hurt the economy without solving the problem. connell: is he supposed to -- that would be characterized as a "grand bargain." if you are right, his job is literally on the line. >> there isn't much of an option. he has not been tal
, as tragic as it is, brings us a little closer together both in the nation and in washington, that would be a good thing. >> all right. top of the hour. good morning. 6:00 on the east coast, it's wednesday, december 19th. christmas is almost here. >> very respectful dialogue. the nra had a respectful statement. i think a lot of people showing respect on this. >> feel something may be be happening. >> feel some grown-ups, maybe. there are, of course, exceptions. >> there are a few. we have mike barnicle with us. you're not an exception. beautiful piece in "the daily news" today. we'll read that in must read. thank you very much. former treasury officials. mark ratner is with us as well. he has a must read. i'm serious. >> beautiful. >> also in washington, washington anchor for "bbc world news america" katty kay. >> no pieces, sorry. >> you'll write one next time. thank you. so we've got a lot to get to this morning. >> a lot to talk about today. >> those exceptions, what are you talking about? >> just in the conversation about everything you thought there were two exceptions. >> rick perr
to go before america goes over a fiscal cliff. an outcome looking more likely every hour. washington's willingness to take america to the brink threatens its prosperity. i'm ali velshi. this is "your money." the latest negotiations comes down to useless symbolic moves and haggling between grown men. put bluntly, your elected officials are wasting time while the clock ticks. house speaker john boehner announced his plan b to let bush-era tax cuts expire for earners making more than a million dollars a year. and he wants to replace automatic cuts in defense spending set to start early next year with unspecified cuts elsewhere. the speaker pulled his so-called plan b for lack of support from his own party because many republicans still beholden to grover norquist and that ridiculous pledge want no compromise at all. the debate between the two sides centers around a balanced approach to the budget. republicans say president obama wants too much revenue. that's taxes in normal speak. and not enough cuts. >> at some point we have to address the spending problem we have. we can't cut our wa
with washington. >> first of all, congressman, you threw out a number there, there are a lot of numbers that can confuse people. you talk about $31 billion. the reality is, over 10 years, based on documents i have seen from republicans, raising the top rates would get you over $400 billion in new revenue. so that is a fact that both sides agree on. >> david, in two months of this new pacific northwe new fiscal year, you have $10 billion in revenue but 16% increase in spending. it is a spending problem. and the president wants to increase taxes to continue the spending. he proposed a plan that put a new spend list in that added more than just the top two rates' worth in the first year. that's the problem with washington. >> and i want to get to the spending and the entitlement question in just a moment, but i want to stay on tax rates for one minute. congressman, there are members of your own party who are saying privately, some publicly, just fold on the tax rates so that conservatives can get a better deal. just this week on "morning joe" on msnbc, here is tom coburn, republican conservative fr
the fiscal cliff. events moving faster in washington. house speaking boehner meeting with party members, moving to plan b. that deals with bush era tax cuts. the white house rejected that. investors like whatever progress we're seeing. s&p 500 at a two-month high. s&p up 1 1/3 -- 1.1 on s&p, dow jones industrial average up 114 points, almost a full% enand nasdaq up 1 1/3. the latest on how those negotiations are progressing. >> over the last 24 hours or so we've had a flurry of proposals, counter proposals, responses, responses to responses. as it lies right now, basically all those responses have been rejected by the other side. at the top of 2:00, we should have a new round because we're going to expect to hear from the senate democratic and republican leaders coming out and talking to cameras. we might get more reaction then. but earlier today speaker boehner came out and unveiled the big one, a two-track plan that would have the house vote on what he's calling plan b. take a listen to his rational for going that route. >> at this point having a back-up plan to make sure that as few
are down 11 points on the dow jones. that's hinging on disappointment from washington. the nasdaq is up two and a third point. my partner here on the floor of nyse joins me in the action. 24 hours ago we were sitting here with a triple-digit gain, actually. now, there is disappointment in washington. >> let's just say the markets are digesting all of this news today, that means moving side ways, a fancy word, folks. we are talking like 30 points. that pretty small. and the president sounding alternative sounding con ciliatory and often combative as you hear from john harwood. here is the bottom line. big movers, bank stocks, home moving stocks, that sue just referenced. all basically flat today. if you take a look at the one sector though that is still continuing to have a great day, doing it day after day and that's airline stocks, very positive traffic metrics from airlines in the last few weeks and these stocks have been moving up virtually everyday. there is your market today. this is a quiet day when you see airlines as the market leader. >> true. good point. we will see what happens w
, they're going to make a deal in washington. i lived inside the beltway, have a pretty good network inside the beltway. cantor is worried -- excuse me, not cantor, boehner is worried about not being reelected as speaker of the house. they can't vote on that until january 4th with the new congress on that. cantor wants that job. so i think boehner's going to press for a deal, i think he's going to go ahead and allow president obama to raise taxes to 39.6%, and i think that'll take the edge off the fiscal cliff. david: let's take this discussion out of the beltway and into the real world. the economy, and, jeff, i want to start with you because you're bullish, but if you're so bullish, hy are you downgrading housing right now? >> because our housing team made a really good call on the housing stocks, and they outran their valuations on a short to intermediate-term basis. they downgraded them about two months ago. liz: okay, so where's the money? show it to us. >> i like just about everything except consumer staples. i think industrials look good, i think they are the new consumer sta
it to run up as much debt as he pleases. "the washington post" offers to push the debate way into next year and then boehner says, okay, but only if the president agrees to spending cuts. so, mere is where we stands this monday morning, no deal, but a shift in principle by speaker boehner. tell us what you think of boehner's proposal. i don't think that conservative will like this one. post it on our facebook page. the nation's mood is somber this morning, the country is in mourning following the events friday in newtown, connecticut, father jonathan morris on that next. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine en brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps
clinton and left washington. she resumd her princeton professorship and life in new jersey with her husband and two teenaged sons. in the wake of her departure, slaughter wrote a cover story for the atlantic magazine. why women still can't have it all. within days the piece became the most read in the atlantic's 150-year history. over 1 million views in the first week alone. tonight she takes us behind that personal decision that became a raging public debate. explain the intensity of that kind of job because it's really much more than what many people think. this is a more intense job than very senior jobs in the private sector. >> it's comparable. it's an assistant secretary-level job. you're on pretty much all the time. you're the head of the secretary of state's private think tank. that means you cover the entire world, just as she does. you're on for everything she needs you to do and the longer-term planning. you work pretty much around the clock. >> you're working probably six days a week. >> i commuted back every weekend because i had to be with my kids in princeton every we
. i want to get to washington with some of the latest headlines regarding speaker boehner and what eamon is referring to as plan b. >> what we know is the speaker is in the basement of the capital building here right now, meeting with republican lawmakers to brief them on the status of the fiscal cliff negotiation, and what a gop leadership aide is now telling news news is the speaker is now prepared to offer what he's calling a plan b, or a modified plan b in which we don't do the grand big deal that the president and speaker of the negotiating on, but instead do something much smaller that would eliminate the pending tax increases for all americans, the speaker saying that he would like to have some kind of a deal, a modified scaled-down proposal now that would eliminate those for as many people as he can. the details are very sketchy on what modified plan b actually means in practice. but basically, it's something he can keep in his hip pocket right now in case these negotiations with the president don't bear fruit. and presumably what we're talking about here, carl, is a little
in the month of november. breaking news from washington. the speaker of the house john boehner. let's listen in. >> the tax hikes that the president campaigned on, that had more stimulus spending then cuts. and indefinite, infinite increase on the debt limit forever. four days ago, we offered a serious proposal based on testimony of president clinton's former chief of staff. since then, there has been no counter offer from the white house. reports indicate that the president has adopted a strategy to slow walk our economy right to the edge of the fiscal cliff. instead of reforming the tax code, the president wants to raise tax rates. even if the president that the tax rate hike that he wanted, understand that we will continue to see trillion dollar deficits for as far as the eye can see. washington has a spending3 problem, not a revenue problem. if the president does not agree with our proposal, i believe he has an obligation to families and small businesses to offer a plan of his own. we are ready and eager to talk to the president about such plan. >> you did speak with the president earlier t
right now in washington. >> felony wire fraud for engaging in a scheme to manipulate the libor rate. the company has agreed to plead guilty to this charge. to its criminal conduct and to pay a $100 million fine. ubs ag (company has agreed to pay a penalty of $400 billion to the united states government. combined with roughly $1 billion in regulatory penalties and disgorgement, these criminal fines and penalties bring today's total resolution to approximately $1.5 billion. the nonprosecution agreement illustrates the significant steps ubs has taken to help investigate libor misconduct. and it reflects the department determination to rigorously enforce criminal laws and enforce our willingness to bring criminal charges under these laws when they are supported by the facts. additionally, in a second complaint, two former ubs traders have been charged with conspiracy. one of these individuals has also been charged with wire fraud and and antitrust violation in connection with these activities. to spread false information, they manipulated the benchmark interest rate on which any consume
-year, and this, when we used to go and see greenspan down in washington, he said everything else you have on your ticker, i need to see the 10 year. i need to see that every morning. nothing has happened in the ten year for the last -- i don't know. it's just not as interesting as it used to be to watch. when it's manipulated, it's not that interesting. >> one of the things about qe is that it's volatility. and you have seen implied vols down in all asset classes, including bonds. >> because things normally are volatile, that just shows us once again this is not letting things -- letting the chips fall where they may. >> yeah. i think it's baked into the cake. >> but i think he's on to something. the fact that the fed is there, the fact that the fed is trying to get ahead of the fiscal cliff and we've got these big bond buying programs. and the last time, remember, in august of 2011 when we had the last showdown, what happened? bonds rallied. >> and you said you want this to be fixed. you almost need the markets to be more volatile than they are. >> that's one of the theories that people have thr
of credit to the fed, perhaps, but also feel the debate shifted yesterday in washington. i began to hear way too many people say, you know what the president is curiously unengaged when it comes to cuts. i have always felt the president had the upper hand in this debate. i listened to bernanke and bernanke says, listen, i know they aren't going to come to deal. i see a lot of republicans on air saying we start to understand what they are they want as cuts. not hearing anything from the president. made me feel grim about the fiscal cliff, good about what the fed wants to do, very grim about the power of the fed, beyond what it's already done. >> the "wall street journal"/nbc news poll of americans about the fiscal cliff, some very interesting findings, just to that point, jim, two-thirds polled want congress to strike a deal and cut the budget, even if that means social security and medicare cuts. so, according to this poll, the people are saying, yes, go ahead, cut entitlements and say that obama has a mandate, among those that did not vote for obama, they have -- that they say that there is
big thing is no vacation without legislation. >> right. >> the "washington post" said as of last night, the halls of the capital were virtually deserted. >> cody's the only guy working there. that's embarrassing, isn't it? >> the president is scheduled to go to hawaii a week from today. >> it's boehner and obama. >> there are things, there's a telephone. understand, they have phone service in ohio and hawaii. >> there's an urgency here that dave cody gets. why? because he has said, i'm not hiring until we get this stuff fixed. now, why doesn't that -- well, everybody, the job, small business job creator. come on, man. honeywell hires. that means other towns do great. that means you get into a very virtuous cycle mode. david, it is not about the small businessman. the little businessman doesn't do well unless the big businessman does well. >> who are they selling to? >> honeywell just hired 200 people. >> no doubt about it. >> the opening bell here at the new york stock exchange for a friday. top of the screen, the s&p 500. nasdaq, avago technologies. >> single-family rentals, homes for
determining that security at the physician facility grossly inadequate that leaders in washington ignored repeated requests to add personnel there and after the tragedy that claimed four american lives, there was a lack of transparency, responsiveness, and leadership at the senior levels in libya, and in washington, d.c. our foreign affairs reporter elise lab bot live in washington this morning. what happens next after this report? >> well, soledad, the panel made about 29 recommendations for the state department to get working on. let me go over a few of them quickly. first of them is to strengthen security personnel for the high-threat post. one problem, the consulate relied on temporary, inexperienced staff and local militias not up to the task. they called for tighter securities at facilities and upgrades. a review of fire safety procedures. smoke inhalation killed ambassador stevens and sean smith. and in-depth checks of the threat environment. a big criticism, the state department failed to recognize the deter yoreating security situation, even in the face of other attacks leading u
this every time in washington. it gets to people after a while. regular people who just hear about it. even if it does not affect them that much. they just start to think, the government cannot do anything right. say they do. say they cut a deal. they come up with some sort of fiscal cliff solution, if you can call it that. what does the economy look like dead? >> i think that regardless of a solution, i think the economy will pick up. it is like a speed trap. you will slow down to some ridiculous slow speed when you go through that town. once you know what the rules of the roads are, you will come back through a little bit faster. connell: what are the things that we are doing right? >> well, the one area that is really picking up is homebuilding. homebuilding will do better. it will do better next year in a matter what happens in the economy. the inventory of new homes is that in inventory low. even if sales pulled even, construction will pick up. i am trying to balance that optimism with the reality when you look at past recessions, recessions are typically caused by policy mistakes. the
within the republican party. they don't understand any of this. they didn't come to washington to do anything for the american people. they came on an ideological binge and they are staying on that. they are not going to come off of it. so i think that speaker boehner is going to have to cobble up 130 republican votes knowing full well about 45 or 50 of them he's never going to get, and we on the other side of the aisle are perfectly willing to come up with 125 or 130 votes on this issue and let's just meet halfway and get this done. that would give you 260 votes. you don't need but 218 for it to pass. but if you think you're going to do something and get your 218 just from the republicans, then that's not the way to do it. and i think that that's what the problem is here. speaker boehner is being threatened with that 218 votes from the republicans or he is subject to lose 125, 130 of them when he's trying to get re-elected to his speakership. >> do you think he can fight that rebellion off, sir? because there are a number of people who are saying that they would rather replace him a
like gospel. >> a veteran foreign correspondent first reported his story in "the washington post" and later wrote a book about his life. >> he had no compass by which to judge his behavior. >> he had a compass but the compass was the rules of the camp. the only compass he had. and it was only when he was 23 when he met somebody from the outside that that started to change. >> when he met park? >> when he met park. >> park was a new prison shin says he met while working at camp 14's textile factory. unlike shin, park had seen the outside world. he lived in pyongyang and traveled in china and he began to tell shin what life was like on the other side of the fence. >> translator: i paid most attention to what kind of food he ate outside the camp. >> what kind of food had he eaten? >> translator: a lot of different things. chicken, barbecue pig. the most important thing was the thought that even a prisoner like me could eat chicken and pork if i were able to escape the bashed wires. >> i've heard people define freedom in many ways. i've never heard it defined as broiled chicken. >> t
. the more wall street washington is rising above, the higher the market goes. >> rejection of how john boehner's plan "b" thatty had came out with today. the major averages are all trading around two-month highs today because it seems like progress is still being made on some kind of a deal. here's where we stand right now. the dow up 98 points, was up 125 at the high, and then the white house rejected and some comments by senate majority leader harry reid on that so-called plan "b" proposal from john boehner, sort of took some of the wind out of the sails. nasdaq still up 1.25%, a 3348 and the s&p 500 index is up 12-plus points right now at 1443. >> while the dow on pace for the first back-to-back triple-digit gains in nearly five months. can we hold on for the final hour? >> let's talk about that in our closing bell exchange. carol roth, the author of "entrepreneurial equation" is with us. from chicago, keith springer from springer financial adviser and john carpina is on the floor with us, and rick santelli, of course, is in chicago as well. carol, you've been skeptical about this m
in washington. a rough friday before christmas. is the fiscal cliff already here? >>> church bells will ring 26 times for the victims in sandsy hook. one week after the terrible tragedy. >>> friday, december 21st. "starting point" begins right now. >>> good morning, a major political blow for house speaker john boehner, one that will affect his position. house republicans abandons him, and it forced the speaker to cancel a vote on plan "b" which would have extended bush tax cuts on incomes below $1 million. congressional correspondent dana bash there was and watched it unfold. walk us through what happened? >> it really was stunning. that is the perfect word, soledad. i was watching all day, talking to republicans to try and figure out if the speaker had the votes. really hard to imagine he was so far out. so far out on this being a strategy. republicans want to prove that they won't let things go up. i was watching earlier votes. watching the speaker's team on the floor, trying to twist arms and trying to get republican votes, and clear from the expressions on their faces it was not going well
in washington. plus how many people are selling stocks just because they'll take their gains this year. because taxes will be higher next year. >> you're seeing people with if you have a large position in a company, this is probably the right time to take it. if it's a large percentage, 10%, 15%, 20% of your net worth, sell it now. >> and if you're planning to retire in the next three to five years, you're probably better off doing your allocation change thousand than you are saying -- >> this might be awful next year, too. isn't moynihan going to -- if we go over the cliff, it's not going to be a great year for stocks. >> it won't be a great year for hiring. >> left's already started. everybody is hiring temporary workers. they're not buying. they're leasing. you have more up front costs because you're trying to defer any long tirm purchase. but that's been happening now for two months. so you can look at the other way and say if we actually get a resolution, you might have more certainty which we're all looking for and companies saying you can actually make a capital projection as opposed to
quickly here. john harward in washington here today. thanks a lot. the cheddar, bacon, onion sandwich that boosted sales for mcdonald's in december. >> steve liesman's exclusive interview with richmond fed president jeffrey lacquer. the lone dissenter at every fed policy meeting this year. more "squawk on the street" after this. the . >>> all right. if the sight of this sandwich makes your mouth water, then you are in luck. because the mcrib is back at mcdonald's today. but how much do limited time offers really impact on sales? we're here to break down the mcrib effect. ladies, great to have you with us. rachel, i'll start off with you. what sort of impact could we see potentially in the month of december? i read in the past, in 2010 at least, one of these limited introduction offers that it actually boosted sales by almost 5%. >> i think it depends on what the lto is and what the prior year same-store comparison is. i wouldn't expect to see a positive number of the magnitude that you're discussing. actually, frankly, it will probably be something in the single digit negatives. but a
this young woman in seeking, finding, killing osama bin laden. in this new report from "the washington post," this mystery cia operative has a very complicated life, even more so after the bin laden raid. joining me from washington is greg miller, the intelligence reporter with the post, with "the washington post." welcome. >> thanks. >> what an article. i read it and from what i can tell, and also listen to an interview with catherine bigelow. this cia operative found the link to the courier to drive this forward to find osama bin laden. who is she? what do you know? >> she's in her 30s. she's a young female targeter for the agency, a targeter is a job in what she is supposed to find weaknesses in terrorist networks, look for nodes, people that can be recruited by the cia or people that could be hit by drones. and she played, as you said, a huge role in the hunt for osama bin laden. and focused on the idea that he depended on a network of couriers to hand deliver his messages. she believed from very early on that that would be the trail that would ultimately lead to the al qaeda chief. >>
.s. is now inviting the head of the opposition, the political opposition to washington. it is a complication. i think rebels on the ground and the political opposition wished that the u.s. hadn't done it so soon. >> what does this mean for the people? >> well, for the -- i think the people, as we were hearing and i know you will speak with arwan damon this is a fighting force to thank for rebel advances and some are saying the u.s. shouldn't have done this. others are very worried that once the regime falls, who is going to want control? it's going to be the jihadist groups. we'll see. >> thank you, hala. >>> something triggered a new democracy and the movement against the assad regime and that's this. believable reports that the syrian military was possibly getting ready to use chemical weapons against the rebels. everyone, even russia warned syria not to do it. now you see this exclusive to cnn. our camera crew inside syria got dangerously close to a chemical weapons production plant. the syrian government doesn't us to see this. they make that very clear. we want you to watch this report
coverage live from washington. mission critical, rise above d.c., all day long. becky quick, jim cramer, maria bartiromo holding their feet to the fire about where they stand on the fiscal cliff and how they'll do their part to rise above partisan politics and reach a deal. now, there are some bowles comments. 40%, yeah, but the odds are much better. they're still 35% chance it will not happen. it's not exactly confidence building. >> not necessarily confidence building. always interesting to me how people can put percentage chances on anything like this. seeing how difficult it is and how the story changes to a certain steextent each day. who knows what's going to happen. >> public care, confidence numbers, spending, any relationship to the fiscal cliff at five. >> i don't know. i just don't know. i think anecdotally, from what i have been able to observe, no. but i can't speak for that. the journal today has the lead stories of consumer spending starting so slow. and in part, they cite the fiscal cliff. i think if you were out there, you would get answers that would not necessarily de
condition in washington where both parties, particularly the democrats are failing to come up with reasonable tax reform. stuart: but you've got a smile on your base because now i'm right. jim singel, founder of costco pays himself $7 a share and borrows the money to do it he's a huge obama supporter. >> well, now that's a different kettle of fish, stuart. borrowing money that they don't have in their kitty to pay a dividend to reduce tax, that's tax manipulation. stuart: which a tax which he favors and went to the democratic convention and argued for. >> i can't efend him, his company or his actions, but i can tell you, stuart, this is a reason why our political system is letting down ordinary people because it does allow the wealthy empowered take advantage of a system because the elites are not solving our problems. stuart: well, the elite never solve our problems, you know that. >> sometimes they do. >> no, no, no, what you're saying it's a back door argument for tax the rich. >> it's actually a back door argument for reducing taxes, limiting deductions and having a ratio
reported shin's story in "the washington post" and later wrote a book about his life. he had no compass to judge his behavior. >> he had a compass, but the compass were the rules of the camp. and it was only when he was 23, when he met somebody from the outside, that that started to change. >> when he met park. park was a prisoner that he met in camp 14 east textile factory. he had seen the outside world. he lived in pyongyang and traveled in china. he begin to tell shin what life was like on the other side of the fence. >> translator: i paid most attention to what kind of food he ate outside the camp. >> what kind of food had he eaten? >> translator: a lot of things. chicken, barbecue pig. the most important thing was the thought that even a prisoner like me could eat chicken and pork, if i were able to escape the barbed wires. >> i heard people define freedoms in many ways. i never heard someone define it as broiled chicken. >> translator: i still think of freedom in that way. >> really? that's what freedom means to you? >> translator: people can eat what they want. it can be the grea
deduction on charitable contributions. here's what fred hyatte wrote in the washington post. overwhelmingly the deduction benefits the wealthy and the rest of the country has to make up the gap. of course it helps the wealthy, but it does a lot more good for the charities and the people they benefit, doesn't it? how much would worthy charities be hurt if the deduction was limittd? we will ask the head of the charity navigator on this program today. that's at 10:33. the charitable deduction discussed here. did you ever text something that you wish you could delete forever? yes, i have. new at 10:00, for you right now, local police want a law requiring text messages to be saved for two years. all rise, the judge is here. by the way, look at page 278 of this book, theodore and woodrow, how two american presidents destroyed constitutional freedom which is -- okay, okay. >> is that the only page worth reading, page 278? stuart: as a matter of fact is. [laughter] >> you're a literary critic now. stuart: this is a privacy issue, isn't it? >> sure, it is a privacy issue. it is pretty unusual that t
, peter. peter barnes in washington. connell: groups of union workers expected to continue their protest against michigan becoming the nations 24th right to work state. dagen: we should point out, this just gives people the option of opting out from paying union dues. that is all that it does. the governor says he will not take on this divisive issue. low and behold, he is willing to sign it when it shows up on his desk. >> the governor did not want the kind of confrontation with unions, that, for instance, you saw in wisconsin. they put on a referendum on the november ballot saying we want to constitutionally banned the right of right to work. unions defeated the governor, one of the governor's favorite laws which is this emergency manager walt which he is trying to use to desperately save michigan cities that are desperately in trouble, including detroit. connell: he was forced, in your view. he maybe it would not have done it if it was not for that. >> the emergency managers law. connell: the idea that he is in support of it. [talking over each other] connell: is the union movement, y
out of washington. but before we get to that, why don't we start with our day anticipates top story. the i.c.e. and the nyse are in talks. the numbers put the price tag at about $8 billion. >> we watched this -- now, you said you were watching this last night with kudlow, right? >> i did. >> did you think david faber? did you think when was book ending? on this, it went up last night. i don't know why this chart is showing no movement. it went up six points. >> yeah, right. >> that wouldn't even bring those -- because we watched. faber was talking about that last night. >> maybe if we show the prior day. >> that was the prior day. >> there's a glitch or something. >> that was the prior day that didn't show the after hours trading card. it was right about 720 been i think, wasn't it? >> and all this followed and it's a big story. >> well, it is. it's interesting because it's nyse euronext. >> and this isn't the first time that i.c.e. did this. >> no. you will are ebb that i.c.e. made a joint unsuccessful bid for control of the nyse last year. when the two withdrew their offers, they
if they don't do their job in washington. we're obviously concerned about it. if they deal with it, which we think they will. we think that next year should be pretty positive. >> meanwhile big party tonight? >> big party tonight, big party last night. >> that's what the city's all about. >> we'll be opening white plains in may, it will be a little warmer than it was up there last night. it's very exciting to see those hotels get done. 1,000 jobs for the city. >> you see at the bottom of your screen, nat gas inventory. >> listen natural gas prices are extending their gains from yet, after that 4% rally that we saw. we're looking at resistance perhaps around the 4.75 level. we saw a natural gas level that was certainly not what analysts were expectings. 65 billion cubic feet which is much greater than what the consensus was. that was between 64 and 68 million cubic feet. but it's also far greater than what we normally see this time of year. greater than last year's withdrawal. greater than the five-year average and it lets you know that we saw much cooler temperatures last week that certainly
is joining us from washington, d.c. how serious should we take this north korean rocket rods? >> very serious. it means that the five members are interested. the development of these rockets is only a prelude, a projection, for more missiles towoodard. dagen: did you expect anything out of china? >> there will be narrative. there will be verbal chinese warnings. not to develop, you know the situation. they have their own narrative that think should be stable. if they do not get anything else from us, in return, that has not happened so far. dagen: relate north korea and this latest action and problems in the middle east. north korea's relationship with iran supplying technology there and does this now take our eye off of, say, just syria? >> it should not. any rocket or missile launch in northern korea is a missile launch for by rob. they are allies. they give each other technology. yesterday the president of the united states still clear that he will be the ally, the partner of the syrian opposition. dagen: serious how? what is next? what power does this give the rubble group and where does
in washington and how the fiscal cliff is likely to effect investment decisions. we have value investor leon cooperman, he's going to join us on set starting at 7:00 eastern time. then at 8:00 eastern, we have black op co-founder and ceo ralph schlosstein. and lynn hutchins will join us. we'll talk about what they see playing out and what they think is working when it comes to the markets now. >> the bill that the president says is in the house that he will sign if -- that's in the senate -- >> the senate. >> the senate that he will sign if the house passes it is what? >> that is $. >> -- that is 250? >> 250? >> he said 400. he said, i have the pen, let's keep tax rates where they are for everyone at 250 and below. so this one, that's c these guys are pretty clever because that would keep rates where they are for everyone at a million and below. no middle-class taxpayers up to a million dollars -- >> that's no matter what, isn't it, in either bill? >>yon r -- i think it would be the same in either one. that's not -- what reid and i guess pelosi, you saw that, said she opposes the million-dol
of the rate that high workers are. we don't want to draw the best and most skilled workers in washington. >> it is interesting to me, people seem to know this. 67% of us think that the people in the private sector work harder than those in the public sector. the federal workforce has more machine money. we are supposed to be having budget cuts. why isn't anyone looking for it. this is one of the areas where republicans have pushed for spending restraint. there is a lot of money here. federal workers outside of the military cost us $240 billion a year. 100,000 beurocrats in the department of agriculture. let's privatize a lot of it. half a million people work for the post office. let the private sector figure it out. >> president obama has hired 143,000 federal workers since he took office. >> i don't think anybody knew that. >> thank you to chris edwards. i appreciate it. that is it for tonight's show. thank you for watching. we will be back tomorrow evening with much more.
restaurants and nightlife and shopping and washington street was not flooded. many of our businesses have been impacted by the closure of the path, 60%. some businesses are reporting as much as 60% down in business. my main concern is the 200 or so businesses off of washington street who are struggling to either stay open, operating in an alternate location or potentially over the next several months could be forced to close down. that's my focus right now. >> i understand there was $1 hundred million in damage in hoboken. what is the main source of revenue for helping people get back to work and get back to business? >> well, for businesses the only option for them from the federal government is an sba loan, and that sba loan is either at 4% or ironic at better credit at 6%. in this economic climate when businesses have already taken loans, they just can't afford to take on so much more debt. i was advocating today for direct grants for the businesses, which is not currently available, for much lower loan rates. i mean, for an individual you can get a rate of 1.6%. can we do that for business
are headed to washington. let us know what's happening. >> he's going to fix it. >> we're going to have pizza. >> make sure you join us tomorrow. "squawk on the street" is next. ♪ >>> led zeppelin to wash away monday blues. congrats to the band for winning kennedy center honors last night. welcome to "squawk on the street." i'm carl quintanilla along with jim cramer, david faber live at nyse. melissa will join us in the next hour. we're kicking off the month of december with strength. anticipating good auto numbers today. greece unveiling that $10 billion eurobond buyback. a 52-week high in france and germany. our road map this morning begins in washington where fiscal cliff negotiations according to the "times" has "collapsed." at least for now. with less than a month until the deadline, who blinks first if anyone? >> goldman takes dell from a strength to a buy. is it time to look at the stock and maybe even other players in the beat up personal computer sector? >> manufacturing data out of china. not bad. 50.6. that's the highest in seven months. although shanghai again trades lower even
: that's true. the market looked at the likelihood of a deal. david: because of the washington post article that said a deal was likely. stuart: at first they thought yeah a deal is likely. then you got more detail about the two sides and where they are. david: cold water was poured on the whole idea and look what happened to the market. charles: they are moving now. they are throwing numbers out there. it is part of the negotiation process. stuart: as news develops about taxes, higher tax tax rates are coming. that does not sit well with grover norquist. he will tell us all about his position 10:35 this morning, he is on this program. let's go to nicole. i want to check in with apple. where are they? 4 minutes past 10:00 eastern time. nicole: apple is doing great today. yesterday we talked about the fact it was at 501. it's traded as high as 526 and change. they are head-to-head with samsung here in the states and abroad. i was reading some headlines, samsung, injunction against the apple in eu, but at the same time a judge decided against apple today. there's back and forth betwee
. washington even during that speed read is still trying to find some type of solution to avoid the potential tax hikes and spending cuts set to hit at the end of this year. so look, taxes are coming april 15th. how can you the taxpayer prepare for whatever type of decision comes out of the beltway? joining me now is john hewitt, yes, of course from the former jackson hewitt. he's chairman and ceo now of liberty tax, one of the largest tax preparation businesses. oh, boy, a lot of people want to hear from you because perhaps there's a low-grade panic going on in their hearts and minds right now,,thinking what should i be doing in advance to limit my tax bill that i might get? can you even know when we don't know the landscape? >> it's hard to tell. and it's the most confusing it's been in my 43 year career. there are certain things we can do and certain situations. you need to check with your tax advisor. we eastbound p help people -- we even help people that aren't our customers so you can call and give you advice for your particular situation. liz: let's break out the most common situations
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